Solar Panels for Home
Energy suppliers are rewarding households installing electricity generating solar panels, also known as photovoltaic panels. Put another way the energy suppliers pay you for every unit of electricity you produce.
Solar PV Panels continue to offer the following benefits for homeowners:-
- You will get over 10% Return on your Investment
- Save up to 50% on rising electricity bills (every time bills go up, you save more)
- You will receive up to £650.00 a year from your energy suppliers
- Your income is guaranteed for 20 years
- Your property value will increase as well as become more saleable
- Index linked to RPI
- The income received is tax free
- You are reducing your carbon footprint
NO BANK CAN OFFER A BETTER INVESTMENT OPPORTUNITY!
The tariff is quite complex but can be broken down into the Feed in Tariff, Export Tariff and the savings you make on electricity bills. Combine these and your investment in pv panels could easily pay for itself in seven years.
Under the Feed in Tariff you are paid for every KWh you generate regardless of whether you use it or not.
Also there are two further financial benefits of installing solar PV under this scheme. 50% of the electricity generated is then deemed to be exported back to the grid at around 4.5p per KWh. The precise amount varies, but 4.5p is a good guide.
Finally, during daylight hours, electricity generated can be used in the home. The key to maximising returns here is to maximise consumption during the day. By changing your behaviour slightly and using appliances like washing machines and dishwashers during the day you can further increase the savings.
This also means that by installing solar PV, you are paid to generate electricity regardless of whether you use it or sell it back to the grid. Effectively rather than you paying your electricity supplier, they pay you!
What’s more the level of these payments is index linked to RPI and guaranteed for 20 years. They are also tax free. Returns of 10% a year are realistic.
For a system up to 4KWp installed after 1 August 2012*
Feed In Tariff : 3434 KWh generated at 16.0p is £549.44
Export Tariff : 1717 KWh exported at 4.5p is £77.27
Consumption : 1717 KWh not purchased at 14.0p is £240.38
First year total financial benefit is £867.09
*indicitive only for 4KWp system installed on south facing property.
To learn more about the benefits of a Solar PV installation, please contact Solarlex on 01422 369004.